No one seems to discuss the worst case scenario for this war. In the best/average case the world takes an economic hit. But I can think of one really big black swan event which no one seems to even consider (except Nassim Taleb). This war could trigger regime collapses all over the Arab world and put populist leaders in charge who rise to power on the basis of Gaza genocide fury. That would be catastrophic to Israel: they could face Iran from the air and Arab ground forces from multiple directions. In fact there are already signs that Egypt is moving towards that, troops are moving in to the Sinai. There is a real chance that Israel could cease to exist.
"That would be catastrophic to Israel: they could face Iran from the air and Arab ground forces from multiple directions. "
Israel has little to fear from Iran in the air, the IRIAF has been destroyed and ballistic missile launches have tapered off.
In terms of Arab ground armies, only Egypt and Saudi pose much of a threat; the others are small, unintegrated and inexperienced and rely heavily on Western contractor support.
And if Israel, which has the most combat experienced air force in the World, somehow did struggle to defend against those forces, they always have the Samson Option of nuclear-tipped missiles from silos and submarines.
A not-unlikely outcome in this war is the fall of many gulf monarchies. A great outcome for some. A terrible outcome for others (such as Israel and the US).
> This war could trigger regime collapses all over the Arab world and put populist leaders in charge who rise to power on the basis of Gaza genocide fury.
It would be a black swan if this didn't happen.
This is exactly why the Saudi leadership have been quick to debunk Western propaganda about the Saudi's itching to join the war, despite Iran's strikes on GCC territory. The domestic blowback in the GCC states would be fatal to the political system.
The GCC elites there are living well, with escape plans, but the people know they are viewed as subhuman "arabs" by the Israelis, and are in line for the Gaza Method (which is currently being deployed in the West Bank and Lebanon).
We saw regime collapses in the Arab Spring - it's not a simple or short process, most regimes survived (either directly or via reversion). Even when a regime was overthrown, the replacement was usually not more hostile to Israel. e.g. Syria isn't more hostile than it was. Thing is there isn't all that much 'fury' since Arabs already assume the worst of Israel, while reasons for relative peace remain as is or are actually strengthened by the revolution process (e.g. economy, desire for quiet following violent revolution, new regime wanting to establish itself, etc.)